Lead falls by 0.6% on weak global cues

Lead fell 0.63% to Rs 109.80 per kg in futures trade today after participants reduced positions amid a weak trend overseas and sluggish domestic demand.

At Multi Commodity Exchange, lead for delivery in current month was trading lower 70 paise, or 0.63%, at Rs 109.80 per kg in a business turnover of 126 lots.

Metal for delivery in October fell 60 paise, or 0.54% to trade at Rs 111.10 per kg in 11 lots.

Analysts said besides weak demand from battery-makers in the domestic spot market, weakness in base metals at the London Metal Exchange on concern over the economic slowdown in China, the biggest consumer, demand may falter in China weighed on lead futures here.